2 hours ago
US stocks start flat
U.S. stocks opened little changed on Monday as Wall Street began a shortened Thanksgiving holiday week.
The Dow Jones Industrial Average and S&P 500 were up less than 0.1% in early trading, while the Nasdaq Composite was up 0.4%.
— Karen Gilchrist
2 hours ago
It’s been a ‘crazy week’ for oil, says Amrita Sen – here’s why
Amrita Sen, founder and research director at Energy Aspects, discusses the drivers of oil market volatility and the outlook for the commodity in 2024.
4 hours ago
Crude oil futures rise on outlook for OPEC+ production cuts
Oil futures rose on Monday and continued to rise sharply on Friday on expectations for further OPEC+ supply cuts to support prices amid turmoil in the Middle East, analysts said.
International benchmark ICE Brent crude oil futures for January 2024 rose 1.6% to $81.89 per barrel as of midday London time. WTI crude oil futures for the January contract also rose 1.6% to $77.26.
ICE Brent crude oil.
6 hours ago
Stock prices are rising: Diploma and Ocado are on the rise.Bayer, Julius Baer down
British business solutions company Diploma topped the list of European stocks on Monday morning. Third quarter results Exceeded expectations from company consensus.
The company said it expects full-year operating profit margin to be 19.7%, compared to the consensus of 19.3%.
Grocery delivery company Ocado rose 6%.
At the bottom of the Stoxx 600 index, stocks plunged 19% after pharmaceutical giant Bayer said it would halt a large late-stage trial of its anticoagulant drug due to “lack of efficacy.”
The company suffered a double blow in a U.S. court on Sunday. ordered it The company will pay $1.56 billion to plaintiffs who claim herbicide products caused cancer and other injuries.
Bayer stock price.
8 hours ago
European stocks start the week mixed
European stocks were mixed early Monday, with the Stoxx 600 down 0.09% as of 8:33 a.m. in London.
Britain’s FTSE 100 and Germany’s DAX fell 0.3% and 0.2%, respectively, while France’s CAC40 rose 0.2%.
Retail stocks led the gains, rising 0.75% in a week of strong sales as consumers jumped on Black Friday deals.
STOXX 600 index.
9 hours ago
European stocks head for a calm open
European stock markets opened mixed on Monday, according to IG Data.
The FTSE 100 is expected to fall 6.5 points to 7,497, France’s CAC 40 will rise 4.5 points to 7,240 and Germany’s DAX will fall 9 points to 15,913.
— Jenny Reid
16 hours ago
CNBC Pro: Can the ‘Magnificent Seven’ do well again in 2024? Morgan Stanley’s Mike Wilson joins us
Much of the S&P 500’s rise this year can be attributed to stocks in the Magnificent Seven.
The group consists of Apple, Amazon, Alphabet, Meta, Microsoft, Nvidia, and Tesla, some of which have benefited from the buzz around artificial intelligence.
But can the Magnificent Seven continue to beat the market in 2024? Mike Wilson, chief U.S. equity strategist at Morgan Stanley, also weighs in and talks about how to invest in 2024.
CNBC Pro subscribers can read more here.
— Tan Weizhen
14 hours ago
The Nikkei Stock Average temporarily reached its highest level in 33 years, the first since May 1990.
Japan’s Nikkei Stock Average briefly hit a 33-year high on Monday morning, with the benchmark Nikkei stock average reaching an intraday high of 33,848.98 yen.
This exceeds the previous high of 33,753 recorded on March 7, and is the highest level since May 1990.
However, the index quickly fell after reaching its high, recording a decline of 0.07% from its previous closing price.
15 hours ago
China keeps 1-year and 5-year loan prime rates unchanged in November
The People’s Bank of China kept the one-year and five-year loan prime rates unchanged at 3.45% and 4.2% in November.
Since the People’s Bank of China cut the one-year LPR from 3.55% to 3.45% in August, the LPR has remained unchanged for three consecutive months.
Meanwhile, the five-year LPR has remained unchanged at 4.2% for five consecutive months since being lowered from 4.3% in June.
— Lim Huijie
16 hours ago
CNBC Pro: Is it time to buy after Alibaba’s stock plunge? Here’s what analysts think
Shares in Chinese e-commerce giant Alibaba fell after the company scrapped plans to spin off its cloud computing business into a separate company and go public.
While most investors have reacted negatively to the company’s decision, some on Wall Street have welcomed the move.
CNBC Pro subscribers can read more about what analysts at Morgan Stanley, JPMorgan, Bernstein, and Barclays are saying about Alibaba here.
— Ganesh Rao